credit scores; home loan

[Anonymous]

DH and I have credit scores of 806 and 814 (Beacon scores). the reasons were that the amount owed on revolving accounts is too high, lack of recent installment loan information, too many inquiries in the last 12 months, too many accounts with balances, time since most recent account opening is too short.

We are in the market for a home mortgage. Is is worth making some changes to improve our scores? What should we do? Right now the amount on revolving accounts is high because we auto-pay most of our bills through a credit card, we have not taken any previous loans and do have a lot of credit cards (with 0 balance).

[Anonymous]

Anonymous wrote:DH and I have credit scores of 806 and 814 (Beacon scores). the reasons were that the amount owed on revolving accounts is too high, lack of recent installment loan information, too many inquiries in the last 12 months, too many accounts with balances, time since most recent account opening is too short.

We are in the market for a home mortgage. Is is worth making some changes to improve our scores? What should we do? Right now the amount on revolving accounts is high because we auto-pay most of our bills through a credit card, we have not taken any previous loans and do have a lot of credit cards (with 0 balance).

Those are excellent scores and shouldn't preclude you from getting the best rates out there. 850 is the max score, and from what I've read, anything over 750 is an excellent score.

[Anonymous]

Anonymous wrote:DH and I have credit scores of 806 and 814 (Beacon scores). the reasons were that the amount owed on revolving accounts is too high, lack of recent installment loan information, too many inquiries in the last 12 months, too many accounts with balances, time since most recent account opening is too short.

We are in the market for a home mortgage. Is is worth making some changes to improve our scores? What should we do? Right now the amount on revolving accounts is high because we auto-pay most of our bills through a credit card, we have not taken any previous loans and do have a lot of credit cards (with 0 balance).

I agree with the PP. Those are excellent scores. There is always a 'reason' listed as to why you don't have the top score. With 800 scores, you should qualify for the lowest rates (assuming everything else- employment history, income and savings are acceptable).

[Anonymous]

What on earth? Those scores are excellent. You have no reason to do anything to improve them.

[Anonymous]

Are you for real?

[Anonymous]

I worked in a bank for several years and can count on one hand the number of people with over 800. It is extremely rare to have that high- 750 is the new 720. You will not have any issue getting credit and I'm sure you get bombarded with credit offers!

[Anonymous]

is this a joke?